'Hyundai Motor Way' sets the path for accelerated electrification

ABU DHABI: Hyundai Motor Company hosted its highly sought-after ‘2023 CEO Investor Day' in Seoul, revealing its visionary mid- to long-term financial plans and business strategies. 

At the forum, Gang Hyun Seo, Executive Vice President, CFO and Head of the Finance & Accounting Division, Jaehoon Chang, President and CEO, Heung-soo Kim, Head of the Global Strategy Office and Executive Vice President, and Chang-Hwan Kim, Head of the Battery Development Center and Senior Vice President, and other executives presented the roadmap to investors, shareholders, and other stakeholders.

Hyundai Motor Company is trying to capitalize on its rich heritage of innovation and forward-thinking ability in internal combustion engine vehicles. The company is committed to successfully transitioning to the electrification era through its breakthrough strategy, ' Hyundai Motor Way.'

Hyundai will execute this strategy by securing a huge investment of KRW109.4 trillion over the next 10 years. It is taking appropriate steps to become a smart mobility solution provider. Hyundai will focus on future businesses like hydrogen, robotics, autonomous driving, and advanced air mobility to stay ahead in the future mobility sector.

The main parts of this strategy include strengthening EV production capacity, introducing a modular architecture for EVs, future businesses, and battery development capabilities.

"The value of cultivating human-centred innovation by further developing technology inherited from the past is the distinct heritage that a company with a rich legacy can provide," said President and CEO Chang. 

Hyundai, Genesis, and Kia will introduce 13 new electric vehicle models on the next-generation platform by 2030. Hyundai plans to use various battery options, including next-generation NCM batteries and lithium-iron-phosphate (LFP) for the second-generation platform.

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